1852 Flatbush Avenue - 2nd Floor
Brooklyn, New York 11210
|Client Update - quarterly newsletter||
What service we provide
We operate on the business side of the music industry. We specialize in Tax Accounting, Public Relations and Crisis Management.
How we get clients
We work in tandem with A&R, Producers, Business Managers, and Entertainment Attorneys - (outsourcing). We also get clients from the internet search engines, Speaking & Writing blogs, and distributing gift packages to attendees at festivals/awards, etc. All clients go through a verification process, even when our personal contacts refer them to us or make recommendations to us. It is in the best interest of everybody.
Our Clients (Who we focus on)
What we want from you
We want a copy of your contract with the record company/label; or a copy of the contract from each event promoter or booking agent that book you, including your tour schedule, playlist/set, etc. If you are hiring us to help you resolve a tax problem/dispute, we need a copy of the letter that you received from the taxing authority.
#1) E-mail inquiry
"I was wondering if you act as a sponsor/petitioner for O1 visa application." Warm regards.
Thanks for your inquiry. We have received a lot of similar inquiries. We are Entertainment Accountants and PR representatives for people in Music, Fashion, and Sports. We do not file I-129 Petition for them; and we don't act as a sponsor/petitioner for O1 visa applicants. We leave that specialty to/for their Business managers, Booking Agents, Event Promoters and Immigration Attorneys. That is their job.
#2) E-mail Question
I've just signed with Columbia Records and I received an advance against my recording contract. Would you like to be my manager?
Thanks for your Inquiry. I have received a lot of similar offers. I would suggest that you hire a business manager, a booking agent and a promoter to help you plan and book your concert tour at venues in the USA and overseas. I would then come in and work in tandem with your team or group to plan a calendar of events for each leg of your tour and ensure proper execution of the plan before each event occurs; and on the day of each event. In addition to evaluating and coordinating security details for yourself and adequate insurance coverage for the venue, we would negotiate with the appropriate media, travel, meals and lodging companies; and sponsors, merchandisers, etc. I would also ensure you benefit from my specialties:
We do not disclose non-public personal information about our clients to anybody, except as permitted by law through a power of attorney signed by our clients; or a court order directing us to make disclosure. We also avoid getting involved in conflicts of interest. We are transparent (above-board) and we are on top of all our assignments. Everything that we have done for our clients was discussed with them, reviewed by them, and approved (written consent) by them. They have taken our advice; and none of them have had to endure tax or financial nightmares or file bankruptcy.
Barry's Accounting Services delivers superb service at an unbeatable price of 3%-5% because of our low overhead, and because we are business savvy. We are small enough to know you personally, appreciate your business, treat you as a valuable client, and ensure that you always benefit from our constant exchange of ideas; and we are diversified enough to provide you with an array of value-added services in other industries and cater to your needs quickly without having to go through red tape and board meetings.
Barry's Accounting Services will honor its agreement as stipulated in our written contract with the artist/artist manager: Design business strategies and articulate strategic plans that fit into aggressive marketing and public relations campaigns; ensure tours and release of your album is treated as priority; establish a corporation to manage business-related income, expenses, and investments in accordance with current bookkeeping/ accounting and tax rules; provide the artist/manager with clear weekly/monthly financial reports; review promoter's general/spectator liability insurance policy, event cancellation policy, artist non-appearance option; scrutinize contracts and modify exclusions, power of attorney, key man clause, sunset clause, back-end/front-end deals, guarantees (multiple shows, favorable routing, booking in other regions, etc.) and ensure that the artist receives adequate and timely payment from the record label, publishers, promoters, sponsors, and merchandisers, etc.; help artist renegotiate/buyout of existing contract(s); budget and coordinate concert tours; communicate with booking agents, label A&R department, and sponsor's liaisons; review prenuptial agreements and divorce decrees for tax consequences before the artist signs them; prepare a personal financial/retirement plan for the artist; plan, purchase, manage, and sell business entities approved by the artist; connect artist to overseas promoters and foreign entertainment accounting firms if this service becomes necessary; audit (tour accounting, royalty, publishing and merchandising companies) and hold everybody accountable for the artist's money; prepare personal and corporation tax returns; assist artist with purchasing, renovating, insuring, leasing, and selling real estate, boats and planes; screen key employees and business associates, and coordinate special events on your behalf.
Related expenses: Baby-sitter, maids, chef, butler, and gardener/caretaker (Forms W2, household employees vs. independent contractors), advertising and promotion, printing, postage, stationery, charitable contributions, insurance (property, health, disability, medical, and long term care), medical expenses, bank charges, pension contributions, transportation (air, limousine, tour buses, trucks), taxes and permits (local and foreign), meals, lodging, costumes, studio fees, rehearsal space, hall/stadium rent, lodging while on tour, leases, depreciation deduction, organizational expenditures/deferred expenses, musical instruments and related accessories, equipment repairs, opening acts/artist, stage lighting and decorations, audition fees, portfolio and resume, professional/membership dues, telephone and answering service, electricity, health club, physical training/education, script preparation, dance lessons, voice training, casual labor/stage hands, co-writers, record producers, mixers, taste makers, remixers, hit makers, engineers, co-publishers, costumes, rehearsal clothing/props, tips backstage (dressers, doormen, porters, bell hops, etc.), theatre books, sheet music, scripts, score cards, the cost of attending plays, movies, and concerts to observe trends in your industry and to maintain and improve skills in your profession, celebration, and special events in accordance with industry norm.